Fast. Flexible. Focused.

About IIFL

Our Genesis - Who We Are

IIFL is a financial services conglomerate which was started by a group of passionate entrepreneurs in 1995. The genesis of IIFL lies in the power of dreaming big and believing in your dreams.

IIFL was the pioneer in the retail broking industry with its launch of 5paisa trading platform which offered the lowest brokerage in the industry and the freedom from traditional ways of transacting. Our strength has been to continuously innovate and reinvent ourselves. IIFL’s evolution from an entrepreneurial start-up in 1995 to a full range diversified financial services group is a story of steady growth by adapting to the dynamic business environment, without losing focus on our core domain of financial services.

IIFL serves more than 4 million satisfied customers across various business segments and is continuously building on its strengths to deliver excellent service to its expanding customer base.

3750 cr($808 mn)

Networth

9900 +

workforce

900 +

BRANCHES

400 +

stocks under research

37 lac+

Customers

Latest Feats

Best Private Banking Services. Overall in India 2017- Euromoney.

ET Best BFSI Brands Recognition.

Digital Innovation Champion Award – CIO Crown 2016.

Vision

To be the most respected financial services company in India.

- Not necessarily the largest or most profitable

Values

Fairness

Fairness in our transactions with all stakeholders including employees, customers, and vendors, bereft of fear or favour.

Integrity

Integrity and honesty of the utmost nature, in letter, in spirit, and in all our dealings with people, internal or external.

Transparency

Transparency in all our dealings with stakeholders, media, investors, and the public at large.

We have come this far solely based on our core values serving as a moral compass in all our dealings. Fairness, Integrity and Transparency - FIT is the driving force behind all that we do here at IIFL. We only work with people who fit into our professional ethos. Our constant endeavour is to deliver befittingly on all fronts to all our stakeholders. We are resolute in the observance of these values and will let go of any growth opportunities that deem unfit.

Mission 2020

From an entrepreneurial start-up in 1995, we have steadily grown to emerge as one of India’s leading financial services group. Ever since our inception, our strategy has been to align our capabilities and market insights to the country’s rapidly changing business environment. Our growth trajectory has only served to reinforce our focus on our domain of financial services.

Doubling

Revenue - 2X

Net Profit - 2.5X

Over FY16 - FY20

FY16 to FY20 - Doubling of revenue and 2.5x profit and target to raise ROE from 17.3% to 24%

Adequately capitalized to sustain volume growth

Margin improvement to be driven by

Rating upgrade to help lower cost of funds

circleCost optimization

Durability

Reducing volatility and cyclicality of earnings in all businesses

NBFC - Retail Lending, Digital Delivery

Wealth - Focus on advisory mandate for customer stickiness

Broking - Online retail. Research driven Institutional

De-risking

Diversifying revenue sources with focus on financial services

Diversified asset mix, geographically well spread

Broadening service offerings

Best-in-class risk management framework

Scale & digitization to bring costs down

*The information is based on management’s internal goals and is subject to change without notice. The actual performance can be materially different.

IIFL - Foundation of Excellence

At IIFL, we have laid the right foundation for excellence under our four pillars of Research, Technology, Human Capital and unflinching adherence to the strictest standards of Ethics and Compliance.

Research

Research

Our genuine strength and legacy of hiring and grooming the best research minds with sharp analytical acumen, distinguishes us from the competition. Research is at the core of everything we do. It is a way of life and behaviour.

Technology

Technology

Delivering disruptive products with the use of innovations in technology are what customers have come to expect from us and we take great pride in staying ahead of the curve in discovering the latest trends and implementing them in business.

Human Capital

Human Capital

We have never underestimated the power of human capital. If anything, we have always emphasised and endorsed the power of building a human connect. People continue to be our strength, support and are the backbone on which we have built our business

Ethics & Compliance

Ethics & Compliance

A global environment, characterised by tightening compliance standards, is our competitive advantage. We adhere to and ensure the strictest standards of ethics and compliance in all our dealings with our customers, building and promoting a transparent, fair and unbiased culture of equality and honesty in all our business transactions.

Our Businesses

Our offerings are divided into four operating businesses to comply with all applicable regulators.

Global Footprint

Nirmal Jain

Chairman

Mr. Nirmal Jain is the Founder and Chairman of IIFL Holdings Limited. He started his career in 1989 with Hindustan Lever Limited, handling a variety of responsibilities, including export and trading in agro-commodities. He contributed immensely towards the rapid and profitable growth of Hindustan Lever's commodity export business.
He founded Probity Research and Services Pvt. Ltd., later re-christened India Infoline, in 1995; perhaps the first independent equity research Company in India. His work set new standards for equity research in India. Mr. Jain was one of the first entrepreneurs in India to seize the internet opportunity, with the launch of www.indiainfoline.com in 1999. Under his leadership, IIFL Holdings not only steered through the dotcom bust and one of the worst stock market downtrends but also grew from strength to strength.
Mr. Jain’s educational background is equally noteworthy. He holds a Bachelor in Commerce from the University of Mumbai and a Post Graduate Diploma in Management (PGDM) from the Indian Institute of Management (IIM), Ahmedabad. He is also a Fellow Member of the Institute of Chartered Accountants of India (held the 2nd rank) and a Cost Accounting rank-holder.

R Venkataraman

Managing Director

Mr. R. Venkataraman is a Co-Promoter and the Managing Director of IIFL Holdings Limited. Before joining the Board of IIFL Holdings Limited in July 1999, he has held senior managerial positions in ICICI Limited, including ICICI Securities Limited, their investment banking joint venture with J P Morgan of US, BZW and Taib Capital Corporation Limited. He has also served as the Assistant Vice President of G E Capital Services India Limited in their private equity division and possesses diverse experience of more than 22 years in the financial services sector.
Mr. Venkataraman holds a Bachelor in Technology (B.Tech) in Electronics and Electrical Communications Engineering from the renowned Indian Institute of Technology (IIT), Kharagpur and a Post Graduate Diploma in Management from the Indian Institute of Management (IIM), Bangalore.

A K Purwar

Independent Director

Former Chairman, State Bank of India
Mr. Purwar was the Chairman of State Bank of India, the largest bank in the country from November 2002 to May 2006 and held several important and critical positions like Managing Director of State Bank of Patiala, Chief Executive Officer of the Tokyo branch, covering almost the entire range of commercial banking operations in his illustrious career at the bank from 1968 to 2006. He is currently the Chairman of IndiaVenture Advisors Private Limited, the equity fund sponsored by the Piramal Group and independent director in many listed companies in India including Engineers India Limited, Reliance Communications Limited, among others.

C Ratnaswami

Non-Executive Director

MD of Hamblin Watsa, subsidiary of Fairfax
Mr. Chandran Ratnaswami is a Managing Director of Hamblin Watsa Investment Counsel Limited, a wholly-owned investment management company of Fairfax Financial Holdings Limited, Canada. Mr. Ratnaswami serves on the Boards of ICICI Lombard General Insurance Company Limited and Fairbridge Capital in India, Ridley Inc. in the United States and Zoomermedia Limited in Toronto, Canada. He is also the Chairman of the Board of Trustees of Lansing United Church in Toronto, Canada.

Geeta Mathur

Independent Director

CFO of Helpage India
Geeta Mathur specializes in the area of project, corporate and structured finance, treasury, investor relations and strategic planning. She started her career with ICICI, where she worked for over 10 years in the field of project, corporate and structured finance as well as represented ICICI on the Board of reputed companies such as Eicher Motors, Siel Limited etc. She then worked in various capacities in large organizations such as IBM and Emaar MGF across areas of Corporate Finance, Treasury, Risk Management and Investor relations.
She is currently CFO of Helpage India, one of the largest and oldest NPO’s in India working for the cause of the elderly. Ms. Mathur is a certified Chartered Accountant.

Kranti Sinha

Independent Director

Former CEO of LIC Housing Finance
Mr. Kranti Sinha served as the Director and Chief Executive of LIC Housing Finance Limited from August 1998 to December 2002 and concurrently as the Managing Director of LICHFL Care Homes. He retired as the Executive Director of LIC.
He has also served as the Deputy President of the Governing Council of Insurance Institute of India and as a member of the Governing Council of National Insurance Academy, Pune apart from various other such bodies. He is also an independent director on the Board of Cinemax India Limited and Hindustan Motors Limited.

Nilesh Vikamsey

Independent Director

Senior Partner at Khimji Kunverji & Co
Mr. Nilesh Vikamsey is a Senior Partner at M/s Khimji Kunverji & Co., Chartered Accountants, a member firm of HLB International, a worldwide organisation of professional accounting firms and business advisers, ranked amongst the top 12 accounting groups globally.
Mr. Vikamsey is an elected member of the Central Council of Institute of Chartered Accountant of India (ICAI). He is also on the Board of a number of companies like Federal Bank Limited, and SBI Life Insurance Company Limited, among others.

S Narayan

Independent Director

Former Finance Secretary, Former Economic Advisor to Prime Minister
Dr. Narayan, IAS (Retd.), served the Government of India as Finance and Economic Affairs Secretary. He was also Secretary in the Departments of Revenue, Petroleum and Industrial Development. Retired as Economic Advisor to the Prime Minister of India, he has rich experience in implementation of economic policies and monitoring of the special economic agenda of the Cabinet on behalf of the Prime Minister`s Office. He is also on the Board of other public limited companies like Apollo Tyres Limited, Dabur India Limited and Godrej Properties Limited, among others.

Ashok Jha

Former Finance Secretary, Government of India

Mr. Ashok Jha, an IAS officer, has had a stint of 38 years in civil services and held crucial positions in State and Central Government establishments. For about two years, Mr. Jha served in the Finance Ministry of the Government of India, first as Secretary, Economic Affairs, and later with additional responsibility as Finance Secretary. He was India’s alternate Governor in the World Bank and the Asian Development Bank. Mr. Jha served as the Secretary, Department of Industrial Policy and Promotion and Chairman of Foreign Investment Promotion Board (FIPB) in his capacity as Secretary, Economic Affairs. He was also Advisor, International Affairs, FICCI. After retiring, Mr. Jha was President, Hyundai Motors, India. He is currently an Independent Director on the Boards of some companies.

Keki Dadiseth

Former Director, Unilever Plc.

Mr. Keki Dadiseth, a Fellow member of The Institute of Chartered Accountants in England & Wales, had joined Hindustan Lever Ltd in 1973 and became Chairman of HUL in 1996. He was appointed as Director on the Board and Executive Committee of Unilever PLC and Unilever NV in May 2000. In India, he is on the Boards of Britannia Industries, Piramal Enterprises, Siemens, Godrej Properties, JM Financial Ltd & J M Financial Services Ltd. He is the Chairman of the Convening Board of Marsh & McLennan Cos in India, and Non-Executive Chairman of Omnicom India. He is also on the Advisory Boards of Accenture Services Pvt Ltd, PricewaterhouseCoopers Pvt Ltd and Indian School of Business, and a Senior Advisor to the World Gold Council, India.

Keki Mistry

Vice Chairman and Chief Executive Officer of HDFC

Mr. Keki M. Mistry is a Fellow of The Institute of Chartered Accountants of India. Mr. Mistry joined the Corporation in 1981. He was appointed as Executive Director in 1993, as Deputy Managing Director in 1999, and as Managing Director in 2000. He was re-designated as the Vice Chairman and Managing Director in October 2007 and as Vice Chairman and Chief Executive Officer from January 2010. Besides being on the board of several HDFC group companies, Mr. Mistry is a director on the board of other public limited companies such as HCL Technologies, Sun Pharmaceutical Industries, Torrent Power. He is also on the board of CDC Group, London.

Sat Pal Khattar

Singapore based eminent Lawyer and Investor

Mr. Khattar is a Singapore-based Indian community leader and businessman. He was founder of Khattar Wong & Partners, one of Singapore’s largest law firms, and is the Chairman of Khattar Holdings, a private family investment firm. Among the various positions held by him, Mr. Khattar was Chairman of the Board of Trustees of Singapore Business Federation and a member of the President Council for Minority Rights. He is a Life Trustee of the Singapore Indian Development Association (SINDA) and Co-Chairman of the Singapore-India Partnership Foundation. He received the prestigious Padma Shri award from Government of India in 2011.

Somasekhar Sundaresan

An Eminent Corporate Lawyer

Mr. Somasekhar Sundaresan is an independent counsel with a regulatory litigation practice focused on securities laws, competition law, exchange controls and corporate law. Prior to setting up chambers as counsel, he was a partner at J. Sagar Associates, a national law firm and headed the firm's financial sector regulatory practice.

S Venkatachalam

Non Executive Chairman, Oracle Financial Services

Mr. S. Venkatachalam is the Chairman of the Board of Directors of Oracle Financial Services Software. He has served Citibank N. A. for nearly 30 years, holding several senior positions during his stint. He is currently on the Board of Equifax Credit Information Services and Canara Robeco Asset Management Company. He was an advisor to Karvy Financial Services from 2010-2016. He has previously served as an advisor to Fullerton India Credit Corporation and was on the Board of State Bank of India as an Independent Director. A Chartered Accountant by profession, he has rich experience in the field of banking, finance, administration, compliance, taxation, and labour laws.

Nirmal Jain

Chairman

Mr. Nirmal Jain is the Founder and Chairman of IIFL Holdings Limited. He started his career in 1989 with Hindustan Lever Limited, handling a variety of responsibilities, including export and trading in agro-commodities. He contributed immensely towards the rapid and profitable growth of Hindustan Lever's commodity export business.
He founded Probity Research and Services Pvt. Ltd., later re-christened India Infoline, in 1995; perhaps the first independent equity research Company in India. His work set new standards for equity research in India. Mr. Jain was one of the first entrepreneurs in India to seize the internet opportunity, with the launch of www.indiainfoline.com in 1999. Under his leadership, IIFL Holdings not only steered through the dotcom bust and one of the worst stock market downtrends but also grew from strength to strength.
Mr. Jain’s educational background is equally noteworthy. He holds a Bachelor in Commerce from the University of Mumbai and a Post Graduate Diploma in Management (PGDM) from the Indian Institute of Management (IIM), Ahmedabad. He is also a Fellow Member of the Institute of Chartered Accountants of India (held the 2nd rank) and a Cost Accounting rank-holder.

R. Venkataraman

Managing Director

Mr. R. Venkataraman, is a Co-Promoter and the Managing Director of IIFL Holdings Limited. Before joining the Board of IIFL Holdings Limited in July 1999, he has held senior managerial positions in ICICI Limited, including ICICI Securities Limited, their investment banking joint venture with J P Morgan of US, BZW and Taib Capital Corporation Limited. He has also served as the Assistant Vice President of G E Capital Services India Limited in their private equity division and possesses diverse experience of more than 22 years in the financial services sector.
Mr. Venkataraman holds a Bachelor in Technology (B.Tech) in Electronics and Electrical Communications Engineering from the renowned Indian Institute of Technology (IIT), Kharagpur and a Post Graduate Diploma in Management from the Indian Institute of Management (IIM), Bangalore.

Karan Bhagat

Founder, Managing Director and CEO, IIFL Wealth Management Limited

Mr. Karan Bhagat is the Founder and Chief Executive Officer of IIFL Wealth. He has more than 15 years of experience in private wealth management. Prior to IIFL, he was heading the Mumbai office of Kotak Wealth Management. His rich experience and established product structuring skills have been instrumental in making him one of the pioneers in implementing the Family Office proposition in India. Under his leadership, IIFL Wealth evolved from a start-up to one of India's leading private wealth management and Family Office outfits.
He holds a Post Graduate Diploma in Business Management (PGDBM) from Indian Institute of Management (IIM), Bangalore and a Bachelor of Commerce from St. Xavier's College, Kolkata.

Monu Ratra

Executive Director & CEO, IIFL Home Finance Limited

Mr. Monu Ratra is a veteran in the mortgages industry with nearly two decades of experience. Mr Ratra has been associated with brands like HDFC Ltd., ICICI Bank and Indiabulls Housing. Prior to joining IIFL Home Finance Limited, his last assignment was with Indiabulls HFC as National Business Manager. Mr. Ratra has been a part of the pioneering teams leading various functions to provide excellence through process and quality initiatives, contributing to industry-leading growth. While with the last company, his efforts and vision led to building of a growth sales structure, starting from a scratch, in a start up like environment. At IIFL Home Loans, Mr. Ratra brings strong focus on developing and delivering customer satisfaction with ease and low turn around time. Mr Ratra is passionate about building stronger businesses, adapting and aligning company with new technology and digital era, and maintaining everlasting culture of customer centricity.

Mr. Sumit Bali

CEO and Executive Director, India Infoline Finance Limited

Mr. Sumit Bali was previously the Senior Executive Vice President at Kotak Mahindra Bank, where he
was leading the Bank’s lending businesses including Home loans, LAP, Secured working capital for
small Businesses, Business loans, Credit cards, Loans against Shares and salaried personal loan
business. He was managing an overall book size of over Rs 54,000 cr.
Prior to this role, Mr. Bali was the CEO of Kotak Mahindra Prime Limited in addition to leading certain
secured and unsecured businesses in the Bank. Over the last 10 years, he has also been a member of
the Kotak Leadership team whose objective was to strategize and set the future direction for the
entire group.
Mr. Bali has done his MBA from IIM Ahmedabad and BA Maths from St Stephen’s college in Delhi.

H. Nemkumar

President, Institutional Equities

Mr. Nemkumar heads the institutional equities business at IIFL. He is a Chartered Accountant by education and was awarded the silver medal for securing a second rank All India in the May 1989 exams. He joined IIFL in June 2007 to start up the institutional equities business. Previously, Mr. Nemkumar worked with CLSA India for nearly 10 years (1997-2007) and was Head of India Research and Country Head of CLSA, India. At CLSA, he published a number of research reports covering the oil & gas sectors and India macro strategy. Prior to joining CLSA, Mr. Nemkumar worked for Bharat Petroleum (India’s second largest downstream oil company) for a period of 9 years handling treasury, management accounting and investor relations functions.

Nipun Goel

President, Investment Banking

Over two decades of experience in Advisory and Capital Market transactions and advised a large number of Indian businesses across sectors on various capital market and advisory transactions. Mr. Nipun Goel has built a strong investment banking franchise for IIFL since its association in 2012. Earlier, he was the Head of Investment Banking at Nomura India and prior to that spent ~14 years with DSP Merrill Lynch in Investment Banking division. He is an MBA from IIM Ahmedabad.

Amit Shah

Co-Founder and Executive Director, IIFL Wealth Management Limited

Mr. Amit Shah is the Founder and Executive Director of IIFL Wealth with more than 15 years of experience in the financial services industry. As Executive Director, Amit focuses on IIFL Wealth's international business. He is responsible for securing key institutional relationships for the group, across the US, the UK, Singapore, Hong Kong, and Dubai. Under his leadership, IIFL's international business has reached a level where it advises institutions and HNI families on assets worth more than $1 billion.
Prior to IIFL Wealth, he advised institutional investors in North America and Singapore for nine years. Amit has served stints with Kotak Mahindra Inc. and Citigroup.
He is a Chartered Financial Analyst (CFA) from ICFAI and also holds a Bachelor in Commerce.

Arindam Chanda

Head, Retail Broking

Mr. Arindam Chanda is a Post Graduate in Management from ICFAI. He has over 19 years of experience spanning Consumer Durable, FMCG and Financial Services. He has worked with companies such as Voltas, Philips & Kotak Securities in Past. In his last assignment, he worked as a Sr. VP in Kotak Securities where he has spent 9 years and heading the Marketing, Products, Primary Markets and Distribution. Arindam joined IIFL in 2009 and started building it's High Networth Broking Business - Premia. He along with his team has made Premia one of the most successful Private Client Services in India offering wide range of products through it's Priority Investment Advisory.

Balaji Raghavan

Head, Realty Services

Mr. Balaji Raghavan has more than twenty years of experience in industries such as Real Estate Finance, Banking, and Financial Services. In his current role as Head of Realty Services, Balaji is responsible for raising, deploying, and managing risk in the real estate portfolio. Since joining IIFL in 2010, he built the investment book of more than $1 billion with over 70 transactions. Prior to IIFL, Balaji was heading the mortgage finance business of ICICI Bank Ltd. He successfully managed the portfolio across distribution, risk, and relationship domains in the industry. He holds a Post Graduate Diploma in Business Management (PGDBM) from T. A. Pai Management Institute, Manipal.

Prabodh Agrawal

Chief Financial Officer

A Chartered Accountant with over 25 years of experience with HSBC, Credit Lyonnais Securities Asia and IIFL Group in Singapore and Mumbai, Mr. Prabodh Agrawal worked in equity capital markets for over 20 years before moving to the current role of Group CFO. He joined IIFL in July 2007 as President – Institutional Equities and International operations, based out of Singapore and moved back to Mumbai in July 2012 as Head of Research and assumed the role of Group CFO in January 2016. He has close oversight of all key businesses of IIFL Group including the NBFC, Wealth and Capital Markets.

R. Mohan

Chief Compliance Officer

Mr. R. Mohan is a Chartered Accountant with 28 years’ experience in financial services and capital market regulations. He has been with the IIFL Group for 11 years and is heading the Group’s compliance division. Previously, he was with SEBI as General Manager and served for over 12 years. He has held various positions in the supervision, market surveillance and investigation functions at SEBI. Prior to SEBI, he was with Carborundum Universal, a part of Murugappa Group.

Aniruddha Dange

Chief Strategy Officer

Mr. Aniruddha Dange is an alumnus of IIT Mumbai and IIM Calcutta. He has over 15 years experience in the securities industry, of which eight years were with CLSA. He started his career in 1995 as an analyst covering the TMT sectors at CLSA and became head of research in 2003 and led a highly successful team of 15 research analysts at CLSA and at IIFL. He moved to the corporate strategy function in 2015.

Anand Mathur

President, Human Resources

Anand​ Mathur has over 21 years of experience in HR Leadership roles having worked in some of the finest Indian and MNC organisations spanning across the Financial Services, Consulting and FMCG sectors. He has partnered with business leaders on evolving and successfully executing their People strategies to achieve business results and build a high-performance culture. The people strategies have typically centred around building a strong employer brand and talent pipeline, development and harnessing of talent through learning and development and retention of top talent. ​He​ has also led restructuring, merger and integration and other HR transformation initiatives in special situations across his career.
​Mr. Mathur is a certified Coach (Strengths Finder) and an avid contributor in the HR networks. He is an Alumnus of NMIMS with MBA in Human Resources and an Electrical and Electronics Engineer from Manipal Institute of Technology.​

Gajendra Thakur

Company Secretary

Mr. Gajendra Thakur is a qualified member of the Institute of Company Secretaries of India and a Law Graduate with around 15 years of experience in the Legal, Secretarial and Compliance function. He has joined IIFL in May 2015. He is also working as the Company Secretary of India Infoline Finance Limited. Prior to joining IIFL, he has worked with Reliance Capital Asset Management Ltd [AMC of Reliance Mutual Fund] as the Company Secretary for around 3 years and Centrum Capital Limited for around 6 years as the Company Secretary of the Company. He also held various positions in Rajratan Global Wires Limited and Satish Jain & Company, prior to joining Centrum.

B. S. Amarnath

Treasurer

Prior to joining IIFL, Mr. Amarnath was associated with Mahindra and Mahindra Financial Services for 14 yrs and has handled various roles; the last as a Business Head – Retail Treasury & Mutual Fund. He was also a member of ALCO Committee and the Risk & Liquidity Management Committee where he closely worked with the Board of Directors towards ALM Management. Prior to that, he was associated with Mahanagar Cooperative Bank Ltd.